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BRIEF-Santam sees FY HEPS to be down between 39-44
February 14, 2017 / 12:42 PM / 8 months ago

BRIEF-Santam sees FY HEPS to be down between 39-44

Feb 14 (Reuters) - Santam Ltd:

* Says trading statement for year ended Dec. 31 2016

* Santam HEPS for year ended Dec.31 to be between 39 to 44 pct below and EPS to be between 44 to 49 pct lower versus last year

* Says HEPS is expected to be between 1 033 cps and 1 125 cps (2015: 1 844 cps)

* Says EPS is expected to be between 1 066 cps and 1 170 cps (2015: 2 090 cps)

* Says decrease in HEPS and EPS has been driven by a normalisation of net underwriting results

* Says net underwriting margin is expected to be above midpoint of long term target range of 4 to 8 pct of net earned premiums

* Says net commission ratio also increased following lower reinsurance commission earned on specialist business lines and higher commission rates Source text for Eikon: Further company coverage: (Bengaluru Newsroom)

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